EUR/USD
Analysis:
Since September, a correctional wave has been forming on the European currency market, which has the form of an ascending pennant. The wave structure is formed. The wave has reached the minimum possible elongation. The main scenario: continuation of the wave trend. Since December 13, the correction of the last part (C) has been developing.
Forecast:
The beginning of the decline can be continued in the form of B-C, forming a correction of the entire current wave, and not only the last part. Today, we can expect an attempt to put pressure on the resistance zone, followed by a pullback of the price down. The option of re-lowering to the support zone is not excluded.
Potential reversal zones
Resistance:
- 1.1130/1.1160
Support:
- 1.1070/1.1040
Recommendations:
Trading in the euro market today can be quite risky. Due to the high probability of a price decline, purchases may be premature. Short-term sales are possible, but the size of the move down does not guarantee a profit.
AUD/USD
Analysis:
"Aussie" wave movements in recent months are set by the bearish wave algorithm of December 12. The wave is formed as a weakly descending triangle. The wave structure is formed up to the final part. The price of the pair is at the very top of the powerful reversal zone.
Forecast:
Today, the formation of a reversal and the beginning of the pair's course down is expected. Taking into account the preparation time and the accumulated potential, the price decline down can be several price figures at once. The calculated support demonstrates the expected scope of the daily course.
Potential reversal zones
Resistance:
- 0.6940/0.6970
Support:
- 0.6870/0.6840
Recommendations:
The potential for "Aussie" purchases has been exhausted. It is recommended to track emerging reversal signals to find entry points in short positions. Until then, it is wiser to stay out of the pair's market.
Explanations: In the simplified wave analysis (UVA), waves consist of 3 parts (A-B-C). The last incomplete wave is analyzed. The solid background of the arrows shows the formed structure, the dotted background shows the expected movements.
Attention: The wave algorithm does not take into account the duration of the tool movements in time!